MORE than 4,127 new businesses were created in the Bradford District in the last year - and Council bosses say it shows an ambitious economic strategy is working.

Today marks one year since the Bradford Economic Strategy was launched to much fanfare, aiming to add £4 billion to the economy by 2030 and get 20,000 more people into work.

Bradford Council will today mark the anniversary with an event hailing the achievements of the first 12 months.

The Council says that last year the Bradford district enjoyed 4,127 new business start-ups, up by 116 from 2017, 48 “high growth business expansions” and 6,500 new private sector jobs.

In 2017 there was negative jobs growth, with a loss of 2,000 jobs.

There are also now double the amount of Black and Minority Ethnic women in the local workforce than there were in 2010 - up to 20,000.

And the average weekly wage has also risen to £488 - up from £455 in 2017.

The year has also seen the launch of the Bradford Business Improvement District, the announcement of a new city centre market plan and the re-opening of St George’s Hall.

New plan to boost Bradford’s economy by £4 billion and get 20,000 more people into work

However, a number of key schemes have yet to materialise.

When the strategy was first published it hailed the One City Park development as being a key regeneration scheme in the city centre. The large Grade A office development will be built next to the Magistrates Court, and the strategy said a development partner would be announced in “spring 2018.” However, as of yet there have been no major announcements about the scheme.

There has also been few details announced about the future “public service hub” - a building on the site of the former Jacob’s Well office block that would be home to hundreds of public service jobs.

And one Councillor fears there are still pockets of people in the district who are not yet benefiting from the strategy.

Guests will be told some of the successes of the scheme at an event in Keighley this evening.

David Baldwin, the former director of operations at Bradford City Football Club, heads up the Bradford Economic Partnership, and discussing the success after the first year said: “Minimum requirement, maximum effort - that’s the approach I said we would be taking at the launch of Bradford’s economic growth strategy in March 2018.

“We wanted to create a movement in Bradford and make sure everyone was pointing in the same direction to deliver significant economic benefits across the district.

“In a challenging year for the wider UK economy, our strategy has taken us in the right direction and that is testament to the strong partnerships we are building across the public and private sector.”

Councillor Susan Hinchcliffe, Leader of Bradford Council, said: “This has been a significant year for the Council and our partners. By working together with key organisations across business and government, we have delivered some remarkable economic successes. These achievements are important because the local economy makes fundamental contributions to local people’s quality of life, health and prosperity.

“There is still a lot of work to do and we will continue to do everything we can to boost investment, growth and jobs.”

Bradford Chamber of Commerce president Nick Garthwaite said: “Many businesses in Bradford were involved in the preparatory work ahead of the launch of the economic strategy, and so they will be interested in hearing about the changes since then.

“It’s been a difficult 12 months for many firms, and that uncertainty and trepidation that has grown in recent months may well continue for some time. All the more reason to give businesses and other communities the best assurances we can and support them in the best possible way. And that’s what the strategy does.

“It helps set out a framework for the District to realise its potential and seize its opportunities. It was created as a joint effort, and the objectives will be achieved jointly too.

“Whether that’s highlighting the opportunities in manufacturing for young people, lobbying for better transport connectivity across the North, or simply helping to sustain an environment in which business can thrive, the Chamber is happy to be a part of Bradford’s Economic Partnership.

“Despite the ongoing uncertainty and the repeated challenges facing businesses today, it’s pleasing to note the great strides made by the District over the last 12 months. An exceptional increase in start-ups, job growth happening at an excellent rate and weekly earnings increasing at far above the inflation rate are just some of the outstanding markers that the celebratory event will herald – and rightly so, too. We have lots of good news to shout about.”

Councillor Jeanette Sunderland (Lib Dem, Idle and Thackley) said: "Although these are good figures and show improvement, there is still a problem with youth unemployment. We need to ask the question of why so many young men in the district are unemployed. We're letting young people down. These figures look reasonable, but if you dig down you see there is still an issue with youth employment."